Primis Financial (NASDAQ:FRST) Director Purchases $24,963.49 in Stock

Primis Financial Corp. (NASDAQ:FRST) Director Scott Gamble purchased 1,711 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The stock was acquired at an average price of $14.59 per share, with a total value of $24,963.49. Following the completion of the transaction, the director owned 3,100 shares of the company’s stock, valued at $45,229. This represents a 123.18% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

Primis Financial Stock Up 0.4%

NASDAQ FRST opened at $15.00 on Friday. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 0.16. Primis Financial Corp. has a 1-year low of $9.55 and a 1-year high of $15.18. The company has a 50 day moving average of $14.11 and a 200-day moving average of $13.40. The company has a market cap of $371.55 million, a price-to-earnings ratio of 7.08 and a beta of 0.75.

Primis Financial (NASDAQ:FRST) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. The business had revenue of $45.63 million for the quarter, compared to analysts’ expectations of $43.87 million. Primis Financial had a net margin of 19.71% and a return on equity of 4.98%. On average, equities research analysts expect that Primis Financial Corp. will post 1.57 earnings per share for the current fiscal year.

Primis Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Friday, May 8th. Primis Financial’s dividend payout ratio (DPR) is 18.87%.

Analyst Upgrades and Downgrades

FRST has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods initiated coverage on shares of Primis Financial in a research note on Monday, April 20th. They issued an “outperform” rating and a $17.00 price objective on the stock. Wall Street Zen cut shares of Primis Financial from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Finally, Weiss Ratings raised shares of Primis Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.00.

Institutional Trading of Primis Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Segall Bryant & Hamill LLC bought a new stake in shares of Primis Financial during the first quarter worth $1,303,000. Empowered Funds LLC grew its stake in shares of Primis Financial by 9.7% during the first quarter. Empowered Funds LLC now owns 46,907 shares of the company’s stock worth $623,000 after buying an additional 4,139 shares during the last quarter. Quantinno Capital Management LP grew its stake in shares of Primis Financial by 25.7% during the first quarter. Quantinno Capital Management LP now owns 50,363 shares of the company’s stock worth $669,000 after buying an additional 10,298 shares during the last quarter. Mendon Capital Advisors Corp grew its stake in shares of Primis Financial by 0.6% during the first quarter. Mendon Capital Advisors Corp now owns 1,224,543 shares of the company’s stock worth $16,262,000 after buying an additional 7,216 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Primis Financial by 15.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 171,309 shares of the company’s stock worth $2,275,000 after buying an additional 22,793 shares during the last quarter. Institutional investors own 74.96% of the company’s stock.

Primis Financial Company Profile

Primis Financial Corporation is a bank holding company headquartered in Waycross, Georgia, operating through its wholly owned subsidiary, Primis Bank. The company offers a full suite of commercial and retail banking services tailored to meet the needs of individuals, small businesses, and agricultural clients across its service area. Primis Bank focuses on building relationships within the communities it serves, positioning itself as a local financial partner for deposit-taking, lending, and treasury management solutions.

Primis Bank maintains a network of branch offices throughout southeastern Georgia, serving a combination of rural and suburban markets.